Indian finance Minister Nirmala Sitharaman presented union budget 2023 on February 1. The major announcements for Indian Startups include:
1 An Agriculture Accelerator Fund has been announced, This will give a boost to Agritech startups and will bring innovation to this sector.
2 The government has extended the date of incorporation for startups to avail income tax benefits from March 2023 to March 2024.
3 In a big help for EV startups, Government has extended customs duty exemptions on importing goods and machinery used to manufacture Lithium-ion batteries.
